Latest Business Updates

Business News Headlines

Ø Maruti, Hyundai and Tata Motors post double-digit sales growth in July
Ø Hindalco to invest Rs 8,000-10,000 Cr in Hirakud, Silvassa & Mundra plants
Ø Biological E to break into the big league by Manufacturing 3 Covid Vaccines
Ø India’s appeal against Vodafone award in Senior court, hearing in Sept
Ø Government can exempt any listed PSU from minimum public holding
Ø IRB Infrastructure Developers completes Rs 381.63 Crore fundraising
Ø IDFC First Bank posts Rs 630-Cr loss in Q1 on Pandemic Provisions
Ø IPOs raise over Rs 27,000 Cr in Apr-Jul; issues worth Rs 70K Cr in the pipeline
Ø Leading Automakers post double-digit sales growth in July
Ø Gautam Adani incorporates new petrochemicals subsidiary
Ø India’s crude steel output up 21.4% at 9.4 MT in June: Worldsteel

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Ø India’s 5G space booming with global, domestic players pitching in
Ø Maruti Suzuki reports 50% increase in July sales at 1,62,462 Units
Ø Export fetters by China, Russia spell good news for Indian steelmakers
Ø India’s fuel demand picks up in July, petrol consumption at the pre-Covid level
Ø July GST revenue at over Rs 1.16 Trn; Govt says it marks economic recovery
Ø India’s Power Consumption back to pre-Covid level in July; up nearly 12%
Ø Tata Motors looking at measures to offset impact of semiconductor shortage
Ø Videocon’s Venugopal Dhoot moves NCLAT against Deloitte, CoC and Vedanta
Ø Hitachi ‘reimagining’ India as a global hub for new-age tech solutions
Ø FPIs pull out net investments worth Rs 11,308 Cr from equities in July

 

Ø RBI likely to maintain status quo on interest rate
Ø Fino Payments Bank files documents with Sebi for IPO
Ø PSU banks mobilise record fund of Rs 58,700 crore from markets in FY21
Ø PLI for speciality steel: Govt expects a robust response from large firms
Ø Logistics MSMEs must make a one-time tech investment
Ø Rolex Rings IPO subscribed 130.44 times on the last day
Ø Sebi gives more time to brokers, clearing members to comply with certain rules
Ø IPO market nears peak as valuations hit a 20-year high

GST collections for July at Rs 1,16,393 crore, improving the govt’s income collection.

Ø Passenger vehicle dispatches improve in July as curbs eased
Ø India’s crude steel output up 21.4% at 9.4 MT in June: Worldsteel
Ø Deals sizes of Happiest Minds’ infrastructure and security biz surge
Ø Vedanta’s Sterlite Power hires JM Financial and Axis Capital for IPO
Ø Torrent Power firming up electricity play
Ø HPCL goes all out to help India’s green push
Ø Retail, Agri segments drive credit growth in June: Care Rating
Ø Adani Enterprises incorporates new petrochemicals subsidiary
Ø IDFC First Bank Q1 results: Covid provisioning leads to ₹630 cr net loss
Ø S&P revises Adani Electricity Mumbai’s outlook to negative

Ease of Doing Business Initiatives

Ease of Doing Business Initiatives

Stakeholders may please note that as part of the Government of India’s Ease of Doing Business(EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form.

SPICe+ would be an integrated Web form offering multiple services viz. name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account. It will also facilitate allotment of GSTIN wherever so applied for by the Stakeholders. After deployment of SPICe+ web form, RUN shall be applicable only for change of name of existing companies.

 Upon notification & deployment, all new name reservations for new companies as well as new incorporations shall be applied through SPICe+ only

However, incorporation of companies for names reserved through the existing RUN service shall continue to be filed in the existing SPICe eform along with related linked forms as applicable and if marked under resubmission shall be resubmitted in SPICe eform.

Resubmission of SPICe forms submitted prior to date of deployment of SPICe+ web form shall also be filed in the existing SPICe eform and related linked forms as applicable.